How to Buy Gravitoken (GRV) in 4 Simple Steps

How to Buy Gravitoken

Gravitoken is a fairly new token, and as such is yet to be listed on any of the major crypto exchanges. To buy GRV, you’ll have to make use of a decentralised exchange (DEX), namely PancakeSwap. Follow these simple steps to make your first Gravitoken purchase today:

1. Purchase BNB from a regulated exchange

Choose a broker or exchange from our recommendations below and purchase some Binance Coin (BNB) tokens.

2. Send your BNB to a Web 3.0 compatible wallet such as MetaMask or Trust Wallet

Set up a wallet, then send your BNB tokens from the exchange to your new wallet address.

3. Connect your wallet to PancakeSwap

Navigate to PancakeSwap in your wallet’s browser and click on “Connect Wallet”, then grant PancakeSwap access.

4. Swap your BNB for GRV 

use this link to select the BNB/GRV trading pair, and purchase Gravitoken.

What is Gravitoken?

Gravitoken is a decentralised finance (DeFi) token that exists within the Binance Smart Chain ecosystem. The coin’s supply is elastic, meaning that it can contract or expand depending on market conditions. Contraction is the primary function of this elasticity, and the total supply of GRV is hard-wired to decrease over time in a process called ‘rebasing’.

In theory, this is designed to artificially crank up the price of GRV over time—the supply is programmed to reduce as demand increases, leading to an ever-increasing price per Gravitoken. The algorithm that controls the supply is coded to send the price of GRV to $1,337,000, at which point Gravitoken will allegedly become a stablecoin pegged to that figure.

On the surface, the promises made don’t seem entirely impossible, and the mechanics seem somewhat plausible—each GRV transaction carries a 9.81% fee, which is then used to perform buybacks and execute other functions that manipulate the supply. However, promises of a price that is guaranteed to rise forever should arguably be met with some caution.

Should I buy Gravitoken now?

Gravitoken is an interesting prospect due to the innovative technology behind the coin and the lofty goals set out by the team. Whether or not you choose to buy GRV today is, of course, a matter of personal preference, but the decision should ultimately rest on whether you believe in the mechanics behind the project.

If the maths and tokenomics chime with you, and you think it is plausible that GRV will achieve what it sets out to, then buying Gravitoken is almost a no-brainer—who wouldn’t buy a coin that won’t stop rising until $1,337,000?

If, however, you are dubious of these claims, the issue becomes slightly more nuanced. If you believe that GRV will increase up until a point but ultimately fail, it may still warrant a look-in if you can time the market correctly.

Different ways to buy Gravitoken

Following on from our comments above, there are various strategies that buyers may want to employ to get the best results from a Gravitoken purchase. Here, we’ll outline a couple of basic investment styles that will suit different people depending on their goals.

Buy and hold Gravitoken

Buying and holding is a low-effort technique that often produces strong returns. It requires minimal involvement, and barely any investment or trading skills. You simply need to buy Gravitoken and wait for it to increase in price. Given that the whole premise of the project is a perpetual increase in value, GRV seems to lend itself to buying and holding.

We must caution you again, though, that there is no such thing as a guaranteed profit. Make sure you make a personal decision as to the validity of Gravitoken’s claims before investing.

Trade Gravitoken

Trading GRV refers to a more involved investment strategy, buying and selling Gravitoken over shorter timeframes in an effort to profit from the token’s price moves. For those with a little trading nous, this might be an appropriate strategy, although it should be noted that transactions will be expensive due to the near-10% fee levied on all trades.

Gravitoken is arguably much more suited to buying and holding than trading.

Do I need a wallet?

If you plan to buy Gravitoken today, you’ll need to set up a wallet as part of the buying process we outlined earlier. The wallet will have to be Web 3.0 compatible in order to connect to PancakeSwap, and we recommend MetaMask or Trust Wallet for this purpose.

You may also want to store your Gravitoken stash in another kind of wallet after purchasing, depending on your needs.

Setting up a wallet

Storing your GRV in a wallet will also give you greater control over your coins, and will increase your tokens’ security. Here, we’ll briefly talk you through the kinds of wallets that are available to store your GRV.

• Web wallets – Web wallets are built into crypto exchanges and broker platforms. These aren’t applicable here, as Gravitoken isn’t yet available on these platforms.
• Desktop wallets – This type of wallet runs as a piece of software that stores your coins safely and privately, and offers ease of access. MetaMask can operate as a desktop wallet, in the form of a browser extension.
• Mobile wallets – These are like desktop wallets, but are accessed through mobile apps. These strike a great balance between convenience and security. Trust Wallet and MetaMask are both available in this format.
• Hardware wallets – Issued by companies such as Ledger and Trezor, these wallets offer the most security. Check whether GRV tokens are compatible before purchasing one.